Reconcile Cust. and Vend. Accs. (report)

The Reconcile Cust. and Vend. Accs. report lists all general ledger (G/L) accounts defined for customer posting groups, vendor posting groups, and currencies.

Total net change is calculated for the general ledger and customer and vendor ledgers for a given period. Differences between the two are highlighted.

Customer and vendor ledger entries are separated by posting group and type to make it easy to find errors correct them.

Realized gains and losses in foreign currency exchanges are totaled in the general ledger and compared to the gains and losses posted to the customer and vendor ledgers by currency.

Use cases

Accounts payable professionals use the report to:

• Reconcile vendor accounts and ensure that all vendor transactions are correct in the general ledger.
• Identify discrepancies or errors in vendor transactions and investigate.
• Use the report data to prepare vendor account statements.

Accounts receivable professionals use the report to:

• Reconcile customer accounts to ensure that all customer transactions are correct in the general ledger.
• Identify discrepancies or errors in customer transactions and investigate.
• Use the data from the report to prepare customer account statements.

Financial accountants use the report to:

• Verify the accuracy of the financial data by ensuring that the balances on customer and vendor ledgers reconcile to the general ledger balances.
• Identify discrepancies or errors in financial data and investigate.
• Use the data from the report to prepare financial statements, such as income statements, balance sheets, and cash flow statements.

Try the report

Try the report here: Reconcile Cust. and Vend. Accs

See also

Built-in key finance reports
Ad hoc analysis on finance data
Financial analytics overview

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